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Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

| Media Releases Switzerland

As of Thursday, 8 August 2002, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Medium-term bonds

Duration

New Rate

Old Rate

2 years

1.25%

1.75%

3 years

1.75%

2.00%

4 years

2.00%

2.25%

5 years

2.25%

2.50%

6 years

2.50%

2.50%

7 years

2.50%

2.75%

8 years

2.75%

2.75%

Time deposit accounts

Duration

New Rate

Old Rate

2 years

1.25%

1.75%

3 years

1.75%

2.00%

4 years

2.00%

2.25%

5 years

2.25%

2.50%

6 years

2.50%

2.50%

7 years

2.50%

2.75%

8 years

2.75 %

2.75 %

9 years

2.75 %

3.00 %

10 years

3.00 %

3.00 %

We therefore request that you take the new interest rates into account when compiling tables in the finance section of your newspaper.

Zurich / Basel, 7 August 2002